#obamatax

WASHINGTON (AP) — Nearly 6 million Americans — most of them in the middle class — will face a tax penalty for not carrying medical coverage once President Barack Obama's health care overhaul law is fully in place, congressional budget analysts said Wednesday. The new estimate amounts to an inconvenient fact for the administration, a reminder of what critics see as broken promises. The numbers from the nonpartisan Congressional Budget Office are significantly higher than a previous projection by the same office in 2010, shortly after the law passed. The earlier estimate found 4 million people would be affected in 2016, when the penalty is fully in effect. The difference — 2 million people— represents a 50 percent increase. That's still only a sliver of the population, given that more than 150 million people currently are covered by employer plans. Nonetheless, in his first campaign for the White House, Obama pledged not to raise taxes on individuals making less than $200,000 a year and couples making less than $250,000. Continue reading: www.google.com/hostednews/ap/article/ALeqM5jmIII4F...612f7 #obamacare #obamatax

As the national debt finally passes the $16 trillion mark, are Democrats serious about addressing deficit spending? Several Democratic delegates and supporters that Reason TV spoke with at the 2012 Democratic National Convention said that Democrats care deeply about the debt, but when it came to offering solutions, they said that serious reductions in government spending would actually be counterproductice. Instead, many suggested increasing public works spending to stimulate job growth, despite the fact that President Obama's first stimulus still hasn't moved the economy above 8 percent unemployment. They also defended Obama's proposal to raise taxes on anyone earning more than $200,000 a year, even though this won't even come close to closing the annual budget deficit. #dnc #obamatax #obamnomics

Exactly! Thanks :)